Data Center Power Market Size, Share, Growth Analysis, By Components (Solution, Services), By End-User Type (Cloud Providers, Hyperscale Data Centers) By Data Center Sizes (Small & Medium-Sized Data Center, Large Data Center), By Region -Industry Forecast 2024-2031)

Global Data Center Power Market size was valued at USD 12.41 Billion in 2022 poised to grow from USD 13.41 Billion in 2023 to USD 21.33 Billion by 2031, growing at a CAGR of 7% in the forecast period (2024-2031).

The global data center power market growth trajectory is expected to be determined by the expansion of digital infrastructure resulting from increased digitization. Additionally, cloud computing's increasing popularity is driving the global data center power industry. Data center with thousands of servers are constantly using electricity around the clock. Such data centres require continuous storage system advancements to handle the notable rise in energy usage. Hyperscale data center make optimal use of their servers, which saves a substantial amount of energy overall. These days, a lot of medium-sized companies have effective data center with cloud web hosting and colocation services. As more data center are being used, mega and cloud data center are growing in popularity.

The corporation may reorganize its cooling requirements, lower energy expenses, and add more computing for the same amount of cooling due to hyperscale data center's effective cost-cutting strategies, thereby contributing to the global data center power market share. It is projected that these reasons would increase the market share of data center power globally. In order to provide a more efficient cloud workflow, cloud storage providers like AWS, Microsoft, and Google are expanding the amount of storage they can supply. These companies are making investments in large-scale transactions. Power accounts for the majority of data center expenditures. Power management options are available in data center and are essential for a variety of jobs. These solutions are used to regulate the efficacy and efficiency of data center with regard to power consumption.